Nate Ward
Office: 202-449-8525
Cell: 301-204-0808
1017 17th Pl Ne, WASHINGTON
$997,500
0 Bed
0 Bath
2,810 Sqft
.09 Acre
0 Parking
***EXCELLENT OPPORTUNITY FOR DEVELOPER*** Welcome to 1017 17th Place NE a multiple unit apartment building located in the subdivision of Trinidad/Langston Carver, Washington DC. Each unit offers 1 bedroom/1 bath with extended bump out. Excellent opportunity for a multiple unit condo conversion. Lot size: 3,744 s/f; Zoning RA-2; NO PLANS OR PERMITS. Very deep rear yard. Parking up to 3-4 vehicles. Projected Condo Project: 8 units = (8) 2-bdrm at 1,074 s/f each ($483 s/f), Total s/f = 8,598; ARV = $4,152,834. Projected Construction Cost: Acquisition Cost $997,500; Construction Cost: $1,418,670 ($165+ per s/f x 8,598 s/f of living area); Paid Commissions (5%): $207 642; Carrying Cost at 8%: $302,240 (18 months); Plans & Permits: $50,000; Legal Fees: $10,000; Total Acquisition & Construction Cost: $3,038,552; Profit: $1,114,552; ROR: 36.6%; Very HOT area for new development. 3 UNITS are vacant. Unit #4 is occupied. PLEASE NOT DISTURB TENANT. PROPERTY WILL CONVEY VACANT.
Essential Information
MLS® #DCDC2129360
Price$997,500
Bathrooms0.00
Square Footage2,810
Acres0.09
Year Built1936
TypeMulti-Family
Sub-TypeQuad, Twin/Semi-Detached
StyleOther
StatusActive Under Contract
Community Information
Address1017 17th Pl Ne
CityWASHINGTON
CountyWASHINGTON-DC
StateDC
Zip Code20002
Interior
HeatingForced Air
CoolingNone
Exterior
ExteriorBrick and Siding, Stone
FoundationBrick/Mortar
District
DISTRICT OF COLUMBIA PUBLIC SCHOOLS
Additional Information
ZoningRA-2
Condo Fees$0
HOA Fees$0
Listing Details
Office Contact(202) 387-6180
Office
Coldwell Banker Realty - Washington
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Listing information last updated on April 29th, 2024 at 1:05am EDT.
